EW: Future Progress Will Hinge On Durable Outcomes And Market Expansion

The analyst price target for Edwards Lifesciences has increased from approximately $88.83 to $93.94. Analysts point to strong quarterly results and sustained momentum in transcatheter aortic valve replacements as key drivers of the upward revision.

Analyst Commentary

Recent street research provides insight into both bullish sentiment and ongoing caution regarding Edwards Lifesciences' valuation and growth prospects. Analysts remain largely encouraged by strong performance in core segments, but some have raised questions around future risks and execution.

• Bullish analysts highlighted robust quarterly results, with multiple upward price target revisions reflecting confidence in execution and sustained growth in transcatheter aortic valve replacement (TAVR).
• Several raised guidance for 2025 sales growth and earnings per share, citing beats across the board and management's ability to deliver upside versus prior expectations.
• Recent clinical data, especially seven-year outcomes from major trials, are seen as reinforcing the durability and adoption potential of TAVR in low-risk patient groups, which could expand the addressable market.
• Positive surprises in new product data, particularly in the Evoque platform, are viewed as near-term catalysts for the company’s competitive positioning and market expansion.

• Bearish analysts note that despite improved sentiment, shares could face near-term valuation constraints, with some seeing fair value below recent highs.
• Concerns remain regarding the risk of negative estimate revisions if transcatheter aortic valve replacement growth or profitability does not accelerate as anticipated.
• Upcoming data readouts and policy decisions, such as changes to national coverage, are still viewed as potential overhangs that could impact sentiment or volume growth if outcomes are less favorable than expected.
• There is an ongoing focus on competitive dynamics and long-term adoption trends, with the need for continued evidence to support further penetration in key risk groups.

What's in the News

• Edwards Lifesciences completed the repurchase of 46.8 million shares, representing 7.77% of shares outstanding, as part of its buyback program announced in July 2022. The company spent $3.46 billion on these repurchases as of Q3 2025 (Key Developments).
• The company's earnings guidance for 2025 was raised. Total company sales growth is now expected at the high end of 9% to 10%, with Q4 2025 sales projected between $1.51 and $1.59 billion (Key Developments).
• Chief Financial Officer Scott Ullem announced plans to transition from his role by mid-2026. A search for his successor is underway, and Ullem will remain as an advisor after the transition (Key Developments).
• Edwards reported new clinical data showing strong outcomes from its mitral and tricuspid therapies. Both the SAPIEN M3 and EVOQUE systems demonstrated safety, effectiveness, and positive real-world results (Key Developments).
• Seven-year and 10-year follow-up data from the landmark PARTNER trials reaffirm the long-term safety, durability, and patient benefits of Edwards’ transcatheter aortic valve replacements. These data solidify SAPIEN’s position as the most studied valve platform globally (Key Developments).

Valuation Changes

• Consensus analyst price target has risen moderately, increasing from $88.83 to $93.94 per share.
• Discount rate edged higher, moving from 7.47% to 7.73%.
• Revenue growth expectations eased slightly, with projections shifting from 10.0% to 9.88%.
• Net profit margin improved marginally, up from 23.78% to 24.03%.
• Future P/E ratio declined incrementally, from 35.49x to 34.57x.